Common use of Representations of Administrator Clause in Contracts

Representations of Administrator. Administrator represents and warrants that: (1) the various procedures and systems which Administrator has implemented with regard to safeguarding from loss or damage attributable to fire, theft, or any other cause of the records and other data of the Trust and Administrator's records, data, equipment facilities and other property used in the performance of its obligations hereunder are adequate and that it will make such changes therein from time to time as are required for the secure performance of it obligations hereunder, and (2) this Agreement has been duly authorized by Administrator and, when executed and delivered by Administrator, will constitute a legal, valid and binding obligation of Administrator, enforceable against Administrator in accordance with its terms, subject to bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting the rights and remedies of creditors and secured parties.

Representations of Administrator. Administrator represents and warrants that: (1) the various procedures and systems which Administrator has implemented with regard to safeguarding from loss or damage attributable to fire, theft, or any other cause of the records and other data of the Trust and Administrator's records, data, equipment facilities and other property used in the performance 7 of its obligations hereunder are adequate and that it will make such changes therein from time to time as are required for the secure performance of it obligations hereunder, and (2) this Agreement has been duly authorized by Administrator and, when executed and delivered by Administrator, will constitute a legal, valid and binding obligation of Administrator, enforceable against Administrator in accordance with its terms, subject to bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting the rights and remedies of creditors and secured parties.